Required information [The following information applies to the questions displayed below.] Tamar Co. manufactures a single product in one department. All direct materials are added at the beginning of the manufacturing process. Conversion costs are added evenly throughout the process. During May, the company completed and transferred 23,500 units of product to finished goods inventory. Its 5,400 units of beginning work in process consisted of $17,300 of direct materials and $329,940 of conversion costs. It has 3,600 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month-end. During the month, $497,600 of direct material costs and $2,519,100 of conversion costs were charged to production. 1. Prepare the company's process cost summary for May using the weighted average method. Total costs to account for: $ 347,240: $ 347,240 Total costs to account for: Total costs accounted for Difference due to rounding cost/unit Unit reconciliation: Units to account for: Total units to account for Total units accounted for: Total units accounted for Equivalent units of production (EUP)- weighted average method Units % Materials EUP-Materials % Conversion EUP- Conversion Total units Cost per equivalent unit of production Materials Conversion Costs / EUP Costs UP E 0 Total costs + Equivalent units of production Cost per equivalent unit of production Total costs accounted for: Cost of units transferred out: Direct materials EUP | Cost per EUP Total cost Conversion Total costs transferred out Cost per Costs of ending work in process EUP Total cost $ EUP 0.00 0.00 Direct materials Conversion 0 $ $ Total units Cost per equivalent unit of production Materials Conversion Costs EUP Costs EUP 0 Total costs + Equivalent units of production Cost per equivalent unit of production Total costs accounted for: Cost of units transferred out: Direct materials Conversion EUP Cost per Total cost EUP I Total costs transferred out Cost per EUP Total cost Total cost Costs of ending work in process Direct materials EUP $ 0 $ $ 0.00 0.00 Conversion Total cost of ending work in process Total costs accounted for